Sheraton News
Sheraton Hotels Poised For Record-Breaking Growth Over The Next 12 Months
STAMFORD, Conn. – January 30, 2013 – Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) today announced that its global powerhouse Sheraton
plans to open 30 hotels over the next 12 months. Half of the new Sheraton
hotels will open in China, lengthening Starwood’s lead as the largest
upper-upscale global hotel operator in Asia Pacific. Sheraton is also
picking up momentum in several other emerging markets including Latin America,
the Middle East and Turkey.
“Sheraton is anticipating record-breaking growth, putting us on track to open
our 500th hotel in 2015. The majority of our new hotel development
is taking place in the world’s fast-growing economies, while in North America,
Sheraton remains one of the most sought-after brands for conversion
opportunities,” said Hoyt Harper, Global Brand Leader for Sheraton Hotels &
Resorts. “Our portfolio is stronger than ever following our highly successful
brand-wide revitalization and multi-billion dollar investment to enhance the
Sheraton brand over the past several years.”
One of Every Two New Sheratons will Open in China
Sheraton is slated to open 15 new hotels across China over the next 12 months,
moving it closer to its target of 80 properties in this vast market by the end
of 2015. One of the more notable openings this year is Sheraton Huzhou
Hot Spring Resort, which boasts an innovative ring-shaped structure designed by
leading-edge architect Ma Yansong.
“The Sheraton growth trajectory in China has been nothing short of remarkable.
For the fourth year in a row, Sheraton will open approximately half of its new
hotels in China and demand continues to grow especially in second and third
tier cities,” said Harper. “We are also proud to add Sheraton Huzhou Hot Spring
Resort to our growing portfolio of architecturally unique hotels in Asia
Pacific.”
Global Powerhouse Expands Footprint in Diverse Emerging
Markets
In addition to the flurry of new hotel openings in China, Sheraton is also
growing its portfolio in other fast-growing markets within Asia Pacific. New
openings this year will include Sheraton New Caledonia Bourail Resort and Spa
in New Caledonia and Sheraton Chandigarh Hotel in India.
“Sheraton is renowned as a global hospitality icon and the brand's early entry
into markets around the world is continuing to pave the way for future growth
not only for Sheraton, but also for Starwood's other eight sought-after
brands," said Simon Turner, President of Global Development for
Starwood. "The quality of the Sheraton hotel portfolio and pipeline
is the strongest it has ever been and we look forward to ongoing expansion in
both emerging and developed markets."
The brand’s portfolio in Africa and the Middle East will expand over the next
12 months with the addition of four new hotels including the fourth Sheraton in
Saudi Arabia– Sheraton Medina Hotel, Sheraton Dubai Mall of Emirates and the
first in Tajikistan – Sheraton Dushanbe Hotel. Sheraton will also open two new
hotels in Turkey, Europe’s fastest-growing market, in the cities of Adana and
Bursa.
Robust Growth in the Americas
One of the most promising growth markets for Sheraton is Latin America, which
boasts several of the world’s fastest growing economies. This year’s openings
will include Sheraton Tucuman Hotel – the brand’s ninth hotel in
Argentina. Sheraton is also increasing its footprint in Brazil as the
country ramps up infrastructure development ahead of the 2014 FIFA World Cup
and 2016 Summer Olympics. Following the opening of Sheraton Vitória in 2012,
the brand will open Sheraton da Bahia Hotel in Salvador this year and Sheraton
Reserva do Paiva Hotel & Convention Center, which is located 30 minutes
from Recife, in early 2014.
Sheraton continues to capture conversion opportunities in cities across North
America. Over the next 12 months, Sheraton will re-brand hotels in a number of
key cities throughout the U.S.
About Sheraton Hotels & Resorts
Sheraton helps guests make connections at more than 400 hotels in nearly 70
countries around the world and recently completed a $6 billion global
revitalization and is now in the midst of a $6 billion global expansion over
the next three years. Sheraton is owned by and is the largest and most global
brand of Starwood Hotels & Resorts Worldwide, Inc., one of the leading
hotel and leisure companies in the world with 1,134 properties in nearly 100
countries and 154,000 employees at its owned and managed properties.
Starwood is a fully integrated owner, operator and franchisor of hotels,
resorts and residences with the following internationally renowned brands: St.
Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four
Points® by Sheraton, Aloft®, and ElementSM. The Company boasts one
of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG),
allowing members to earn and redeem points for room stays, room upgrades and
flights, with no blackout dates. Starwood also owns Starwood Vacation
Ownership, Inc., a premier provider of world-class vacation experiences through
villa-style resorts and privileged access to Starwood brands. For more
information, please visit www.starwoodhotels.com.
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Note: This press release contains
forward-looking statements within the meaning of federal securities
regulations. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties and other factors that may
cause actual results to differ materially from those anticipated at the time
the forward-looking statements are made. Further results, performance and
achievements may be affected by general economic conditions, including the
duration and severity of any global or regional economic downturns, the
availability of financing alternatives at acceptable terms, the impact of war
and terrorist activity, business and financing conditions, foreign exchange
fluctuations, cyclicality of the real estate (including residential) and the
hotel and vacation ownership businesses, operating risks associated with the
hotel, vacation ownership and residential businesses. These risks and
uncertainties are presented in detail in our filings with the Securities and
Exchange Commission. Although we believe the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, we can give
no assurance that our expectations will be attained or that results will not
materially differ. We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.
Article Publish Date : 01/30/2013
